{"id":380,"date":"2004-03-02T05:17:31","date_gmt":"2004-03-02T09:17:31","guid":{"rendered":"http:\/\/karmalised.com\/wordpress\/?p=380"},"modified":"2004-03-02T05:17:31","modified_gmt":"2004-03-02T09:17:31","slug":"bush-tax-cuts-creating-millions-of-tax-cheaters","status":"publish","type":"post","link":"http:\/\/karmalised.com\/?p=380","title":{"rendered":"Bush tax &#8216;cuts&#8217; creating millions of tax cheaters?"},"content":{"rendered":"<p>According to the <a href=\"http:\/\/www.americanprogress.org\">Center for American Progress<\/a>:<\/p>\n<div style=\"border: 1px dotted #550; font size: 12x; padding: 5px; margin:\n5px;\">ECONOMY ? THE TAX TRAP: The NYT reports, &#8220;Some 2.6 million taxpayers this filing season will be caught in a tax net that was never intended for them, and many millions more will have to spend time or pay a tax professional to establish, through complex calculations, that they have no extra tax liability.&#8221; The cause? The <a href=\"http:\/\/www.nytimes.com\/2004\/02\/29\/business\/yourmoney\/29amtt.html?pagewanted=1\">Alternative Minimum Tax <\/a>(AMT), once aimed at taxing the ultra rich, is now seeping into the middle class. Daniel N. Shaviro, a tax law professor at New York University, &#8220;said the administration had engaged in &#8216;gamesmanship&#8217; in relying on the alternative minimum tax to minimize revenue loss from its tax cuts.&#8221; This potential tax increase comes on top of the many other <a href=\"http:\/\/www.americanprogress.org\/site\/pp.asp?c=biJRJ8OVF&#038;b=34039\">tax\/fee increases by the Bush Administration<\/a>.<\/div>\n<p>Since posting <a href=\"http:\/\/www.karmalised.com\/archives\/000384.html#comments\">this note<\/a> on the AMT I&#8217;ve become aware of at least one couple who&#8217;ve resorted to, well, lying.  She and her husband will receive a &#8216;nice&#8217; tax refund [enough to pay for a Carribean cruise] as opposed to paying in, saying the cost of hiring someone familiar with &#8216;ways around&#8217; the law was more than they&#8217;d ever paid but worth it. <\/p>\n<p>If George &#038; Co. were counting on the AMT to offset the cost of the tax cuts, how will this creative accounting affect their plans, and the budget, should millions decide to fudge their returns?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the Center for American Progress: ECONOMY ? THE TAX TRAP: The NYT reports, &#8220;Some 2.6 million taxpayers this filing season will be caught in a tax net that was never intended for them, and many millions more will &hellip; <a href=\"http:\/\/karmalised.com\/?p=380\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-380","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pdXTf-68","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/karmalised.com\/index.php?rest_route=\/wp\/v2\/posts\/380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/karmalised.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/karmalised.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/karmalised.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/karmalised.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=380"}],"version-history":[{"count":0,"href":"http:\/\/karmalised.com\/index.php?rest_route=\/wp\/v2\/posts\/380\/revisions"}],"wp:attachment":[{"href":"http:\/\/karmalised.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/karmalised.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=380"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/karmalised.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}